Lolli looks to add lending, could eventually issue credit cards

Crypto e-commerce platform Lolli has said lending is in the works, and could be on-boarded in the next few months, Lolli CEO Alex Adelman on a forthcoming episode of The Block's 'The Scoop.'

Adelman said lending is important to the understanding of bitcoin itself. His platform allows users to gain bitcoin rewards for shopping at participating retailers, making a lending function the next logical step.

"I personally think it's whether we do it whether other people do it," he said. "I think the future of Bitcoin is in the need for a cryptocurrency, is people having this sort of understanding of what a bank is and what money is and the route of money."

Adelman also said credit cards could be in Lolli's future, but at a point when the company can serve a need that isn't already met by popular credit cards, like Chase Reserve. Before the platform can dive into credit, Adelman said the first step is launching a mobile application to increase user base. With the value of bitcoin rewards demonstrated to a large base, the company could crowdsource whether a Lolli bitcoin rewards credit card would meet a growing need.